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Motor Control Centers Market: Market Segments: By Type (Conventional MCC, and Intelligent MCC); By Voltage (Low Voltage MCC and Medium Voltage MCC); By Component (Busbars, Overload relays, Variable speed drives, Soft starters and Others); By End User (Oil & Gas, Chemical & Petrochemicals, Utilities, Food & Beverage, Mining and Others); and Region - Global Analysis by Market Size, Share & Trends for 2014 - 2020 and Forecasts t- 2030
Product Overview
Set of either one or more parts enclosed and has a common power bus is a motor control center. The main goal of the MCC is t- monitor the distribution of electrical power t- electric motors. In order t- maximize efficiency and reduce running costs, these centers play an important role. In addition, motor control centers can integrate production and business networks with field equipment efficiently. Widely accepted today in manufacturing units, they provide paramount security coupled with intelligent monitoring as well as motor control relay diagnostic capabilities.
Market Highlights
Motor Control Centers Market is expected t- project a notable CAGR of 6.2% in 2030.
Motor Control Centers Market t- surpass USD 6.9 Billion by 2030 from USD 4.3 Billion in 2019 in terms of value growing at a CAGR of 6.2% throughout the forecast period, i.e., 2020-30. In emerging economies such as China, India and Brazil, the expansion of the manufacturing sector is expected t- remain a key driving force for promoting market growth in smart motor control centers.
Motor Control Centers Market: Segments
Intelligent MCC segment t- grow with the highest CAGR during 2020-30
Motor Control Centers Market is segmented by Type as Conventional MCC and Intelligent MCC. The conventional motor control centers segment is estimated t- lead the market with a share of over XX.X% in 2019. The key factors driving demand for conventional motor control centers during the forecast period are the increasing demand for industrial automation in developed regions and the benefits provided by conventional motor control centers, such as high level of protection, easy expansion and adjustment, fast and smooth maintenance, and improved reliability and operability.
Motor Control Centers Market: Market Dynamics
Drivers
Increasing Level of Industrial Automation
High levels of automation in manufacturing plants have resulted from technical changes. All manufacturing plants compete t- meet standards of quality and safety, achieve maximum productivity, and sustain reasonable prices for goods. This has resulted in industries automating their processes, such as motor control centers, via intelligent motor control equipment. This has further resulted in a growing demand in developing regions for motor control centers.
Restrain
Decreasing crude oil prices
One of the leading end-user markets of motor control centres is the oil & gas industry. The recent decrease in the price of crude oil has led t- a dramatic drop in capital expenditures, decreasing demand for industrial equipment. Instead of purchasing new and more effective goods, this has left the oil & gas companies focused more on improving operational performance with the same devices.
Motor Control Centers Market: Key Players
ABB Ltd.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
Eaton Corporation
Larsen & Toubr- Limited
LSIS Co. Ltd.
Mitsubishi Motors Corporation
Rockwell Automation, Inc.
Schneider Electric SE
Siemens AG
TES Group
Tesc- Controls, Inc.
Motor Control Centers Market: Regions
Motor Control Centers Market is segmented based on regional analysis int- five major regions. These include North America, Latin America, Europe, APAC and MENA.
Motor Control Centers Market in North America led the market with a lion share of more than XX.X% in 2019 in light of growing implementation of automation control systems in the United States and Canada's manufacturing sectors. Rising spending on utilities is projected t- have a negative effect on the demand in developed markets, including Germany and France. A positive outlook for manufacturing sectors in China and India is expected t- play a crucial role in advancing the growth of the market for smart motor control centers in view of regulatory support t- encourage domestic investment. Saudi Arabia's changing preference from the upstream sector t- the automotive and chemical sectors of the governments of Middle East countries is expected t- increase demand in the manufacturing sector. As a consequence, the factors listed above are expected t- open up new opportunities for the Middle East motor control market over the next eight years.
Motor Control Centers Market report als- contains analysis on:
Motor Control Centers Market Segments:
By Type:
Conventional MCC
Intelligent MCC
By Voltage:
Low Voltage MCC
Medium Voltage MCC
By Component:
Busbars
Overload relays
Variable speed drives
Soft starters
Others
By End-user:
Oil & Gas
Chemical & Petrochemicals
Utilities
Food & Beverage
Mining
Others
Motor Control Centers Market Dynamics
Motor Control Centers Market Size
Supply & Demand
Current Trends/Issues/Challenges
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
FAQs on Motor Control Centers Market
Which segment is anticipated t- hold the largest market share?
At what CAGR is the market anticipated t- grow between 2020 and 2030?
Wh- are the key players in the Motor Control Centers Market?
What could be the challenging factors in the growth of Motor Control Centers Market?
What are the growth drivers for the Motor Control Centers Market?